Insurance made an offer - Keep it or let it go???

Munchie

Munchie

Registered
Well gang, after about 6 weeks, I finally recieved an offer from Travelers for a total loss settlement on my Gen II.

Here's a link to my crash thread which has all the pics...Munchie's Down!

I made a seperate post because this is kind-of-a different issue and I wrestling with what to do.

I've been offered:

$10,889.93 if they pick it up...
$ 8,029.92 if I keep it...and they will be applying a Salvage Title against it.

Please take a look at the pics and give me some feedback...:please:

Looks like the buyback would run me about $2,800...but I don't think the bike is hurt structurally - just a lot of work to replace all the plastics and whatever else I may find. I am totally disappointed with the "New" 2011's on the way and most definitely would not buy one of those if I do let them take mine...probably go back with the BMW S 1000RR - but I'll be the first to say that's not the ideal situation for me as a primary bike as my Hayabusa has been.

Anyone have any luck negotiating with them on their terms? Such as asking for more money? Or would you guys even pursue that avenue?

Looking for help here gang...I'm a little depressed over the whole event and don't exactly trust my own judgement about it.

All things considered, I'm thinking $8,000 and keeping the bike doesn't sound too bad...but the salvage title bothers me...although I would never try to hide the fact that she had been in a wreck, telling somone you had to replace the front and side plastics and fairing stays, sounds alot better than "it was totalled and I fixed it". When I hear "totalled bike", I'm thinking a wadded up pile of undistinguishable metal being dumped off a roll-back into someone's front yard...

Would you keep and fix it?
Keep and sell it off as-is to someone else that may want the project bike to make a few bucks?
Keep it and part it out to make a few bucks?
Let her go and get in line for something else - other than the 2011 Busa?
 
Tough choice I wonder if keeping it taking the money an parting it out may get you more money an a brand new bike on top it with some change left over. consider your options with a calculator carefully. Start pricing out the parts that are still intact may be a nice number
 
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take the $10.8K and buy a new one. I have seen brand new Gen IIs for $11K OTD (used ones for around $7500-$8500). This way, you're back on a Busa sooner without the grief of rebuilding one.
 
You have a bunch of options. The salvage title will haunt you depending on your state requirements when you rebuild and when you sell it.

If I was in your case, I would take the 8k and buy a new or nice used one. Then take the old one and buy parts as I could to make it a track bike and not worry about tag and title.

If you have the space, time, and desire you could part out what is left to make a few $$.

Otherwise take the 11K and buy a new one. I do not recommend putting it back together as a primary bike unless you have a wealth of experience doing so. The clouded title will haunt you. I've never seen a totaled bike put back together by the owner where there was not a corner (or several) cut.
 
What is it about the 2011 you dont like,

Im thinking Black 2011, But I would want to see the white in person before making that decision
 
Take the 8k keep the bike .
Buy a new one and finance the diff .
Sell wrecked bike for 3500-4000 and pay off loan on new one .
Put the diff in your pocket for mods on new bike .
The 2011 Black is beautiful , don't know what your talking about ?
 
Well, a little of an explaination...I really just love the color scheme of my black/grey (even if it's not the fastest color:laugh:). I wanted an 05 LE soooo bad when I saw the color and just couldn't afford it at the time. Once I saw the GenII with the same charcoal/metallic flake, I loved it...and it's the only thing I have ever bought new.

The 11,000 includes the bike and an allowance for the full yoshi system, corbin, Givi topcase, Takeuon's gold wheels (all of which I had just mounted for less than a week before the accident), screens, pegs...etc.

As for the 2011's, I have vowed to never have another black vehicle - of any kind. They do look freakin awesome...on the showroom floor...but get em home and they always look filthy and swirls/scratches seem to multiply terribly! As for the off-white, I'm just not a fan...kinda looks a bit like it's been primered for paint, but never got the color down. Not knocking anyone's choice, they just don't appeal to me. I also think the value is going to always be an issue with what Suzuki is doing. With the 2011 being the 2010's that sat in the factory or maybe a new bike...just seems that holding back a year for some and re-releasing it for others will hurt the value of the bike. While also costing more than $2000 over what I paid for my 08' new (although I do understand why - exchange rates).

$13,400 for a 2010/2011 busa or $15,600 for the BMW with ABS, Traction Contol and Shift Assist...just don't know that if I were in the market for a new bike, that the busa would be the front runner right now.

Having said that, I do like the 2009 Silver, but I've only seen one around here (Upstae SC) and the dealership wants $12,200 and it has a scratched tank and some crap on the right side fairing.

Struggling guys...:banghead: I really do appreciate the input though...I had made myself a deadline to decide something by tomorrow, because I know I'll wrestle with it back and forth forever. The salvage title does bother me most. I know that no matter what I put into fixing the bike, it would never be worth more than $5,000 guessing? I figure most people looking for an 08' at this point would expect to pay ~$8,500...throw in the salvage title and it will always have to take a drastic cut in asking price - as compared to the a comparable bike of the same year/options.


And I agree Prof...I'm trying to be realistic with my time/patience...and I wonder a little about how far I could actually go with the rebuild. We all have the best intentions...but I a realist on the actual ability and determination.
 
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There has to be LOTS of new 08-09 bikes left out there ?
With time I bet you could even find a new silver like one you had .
Ask your dealer or a dealer who cares to get on the locator .
Tell him to search the nation not your region and I bet you will find one .
 
Blanca Busa said:
There has to be LOTS of new 08-09 bikes left out there ?
With time I bet you could even find a new silver like one you had .
Ask your dealer or a dealer who cares to get on the locator .
Tell him to search the nation not your region and I bet you will find one .
Click to expand...


Can they do that? I would be all over a new 08' Black/Grey if I knew of one out there.

And hope I don't come off the wrong way about the other color schemes out there...I just really loved my bike. Funny how attached you can become to a "thing". :down:
 
Any dealer worth their salt should be able to search the nation for new bikes left over .
They will either have to buy it direct from whatever dealer has one you want or trade them one for one .
Either way yes they can if they want to make a deal ?
 
Thanks Blanca...I appreciate the idea...Prof's idea around a potential track bike would be cool option too...

I'll definitely give my local dealership a call in the morning to see what they can come up with.


Heading to bed now, so I'll have a few hours to sleep on it. Thanks for the advice guys.
 
I'm know I'm late responding to this thread, but what did you end up doing???????
Sorry, but I had to stir it up again and ask the above, what a delema!

I would have taken the low ball option and ketp the bike, salvaged title or not. It seemed to be mainly cosmetic damage (besides the pipe) anyway. With some wise shopping and a custom pait job she could have been as good or if not better than new. What would that have cost, $5,000 - $6,000 max? If you love the bike it will be in the stable as long as it takes to wear her out. With a well maintained Busa that should take many years. You'll get your money out of her in smiles over thoes many years, regardless of the salvaged title status. By then it will be time to let her go for a cheap price anyway. Plus you'll end up with several thousand dollors in your pocket for other interest's.

If your the kind of guy that likes to switch bikes often, walk away and start over with something new. Looks like you had your eye on that beem'er anyway, I bet that's what your riding now.

I know what it's like to want "something new," but I'm the type of guy that will take good care of a bike, spend many years riding the wheels off it, then give it away cheap after I got more than my monies worth out of it. I wish you the best! Now lets see some pic's of that brand new Beem'er, S/T.
 
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Munchie, Do you have title in hand for your '08? If you do I would keep it make a track bike or show custom or just a spare for parts for the new bike. If not take the 11K and buy a new one. Check out ebay they have a brand new silver (which I have very good looking color) for $10,500.

The salvage title will hurt it. Most insurance company's do not want to insure them if they do its at a higher cost. Also check with your state laws on the salvage title.
 
Your best bet would be take the 8k part the one u have and u will be getting more money to do mods i wrecked my got 8k parted the other one got 2900 on the engine alone got another 3k on the other parts...best bet part and i can tell u who will buy parts from u asap....i know people in florida who buys busa engine and parts for spare...
 
I'd keep the 8K & use the Busa for a track bike !

But thats me >>> And I agree the 2011 colours suck !!!
 
Take the 10k, save yourself the problems of rebuliding the old bike, or selling of the salvage parts on Ebay. check Ebay for new leftover bikes they are out there.
 
If I was you, I would've taken the 10k and buy a new one. With the 2011 coming out soon, I'm pretty sure dealers will try to get rid off any old ('08-'09) Busa they have. Ask your local dealer to look for one and I'm sure you'll get hold of a one with your color choice.
IMO, fixing and selling the bike (with a title like that) or in parts is too much of a headache to deal with.
 
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